Bitcoin has swung wildly in recent weeks as a gold price boom goes bust and analysts warn of an “imminent dollar and financial crisis.”
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The bitcoin price has dropped back from its all-time high of around $126,000 per bitcoin, with traders warning of a looming 2026 shock.
Now, as the Federal Reserve quietly revealed a coming $6.6 trillion flip, the founder of the world’s largest crypto exchange Binance has predicted the bitcoin price will eventually soar beyond gold.
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Binance chief executive Changpeng “CZ” Zhao has issued a bullish bitcoin price prediction.
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“Prediction: Bitcoin will flip gold,” Changpeng “CZ” Zhao, who remains Binance’s largest share holder after being forced out as chief executive by a Biden-era Justice Department settlement, posted to X. “I don’t know exactly when. Might take some time, but it will happen.”
The bitcoin price has soared over 62% over the last 12 months, climbing as U.S. president Donald Trump made bitcoin and crypto regulation a priority for his administration and his family enthusiastically adopted bitcoin and crypto in response to claims they’d been “de-banked” by the financial industry.
Gold has also rocketed higher, with traders piling into the traditional “safe haven” amid fears of U.S. dollar “debasement.”
The gold market capitalization as hit $28.7 trillion this year, up 50% on this time last year. Bitcoin, for comparison, has a market capitalization of just $2.1 trillion.
This week, gold fell back from its all-time highs, with the bitcoin price climbing.
“[The] sharp gold selloff coincided with a strong intra-day bounce in bitcoin,” Standard Chartered’s global head of digital assets research Geoffrey Kendrick wrote in an emailed note.
“This was presumably a sell gold, buy bitcoin flow. Medium term I expect more of this, and further such evidence would be constructive for a bitcoin low being formed. Gold has been outperforming bitcoin a lot recently, something which has perhaps started to turn.”
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The bitcoin price has surged in recent years, climbing alongside gold as traders bet on the “debasement” of the U.S. dollar.
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Meanwhile, bitcoin and crypto market watchers are fearful the bitcoin price could plunge below $100,000, though upbeat traders believe such a drop would be a buying opportunity.
“I am now thinking a dip below $100,000 seems inevitable, although the dump may be short-lived,” Kendrick wrote, adding “this could be the last time bitcoin is ever” below $100,000.
“The 10 October U.S.-China trade war fear driven selloff put paid to any further push higher and the question now is how far does bitcoin need to fall before finding a base,” Kendrick asked.